Gurley urges entrepreneurs to ask what it means to be greedy when everyone else is fearful.
“I think it was Graham and Dodd before Buffett that said, be fearful when others are greedy and greedy when others are fearful.”
Gurley explains missing Google despite negative signs including Yahoo's collapse and Larry and Sergey both wanting to be CEO.
“These were other search companies, right, at the time. Right. Larry and Sergey both wanted to be CEO and they were PhD students at Stanford.”